The Bank of the Philippine Islands (BPI) has priced its P5-billion peso-denominated fixed-rate BPI Supporting Individuals Grow, Lead, and Achieve (SIGLA) Bonds due 2028, with an option to upsize, marking the second tranche under its P200-billion Bond and Commercial Paper Program approved in October 2024.
The BPI SIGLA Bonds were priced at par and carry a fixed interest rate of 5.405 percent per annum, gross of applicable taxes, payable quarterly. The bonds have a two-year tenor, offering investors a short-dated instrument amid expectations of easing interest rates over the near term.
The public offer period will run from January 26 to February 4, 2026, with a minimum investment of P500,000 and additional investments in increments of P100,000. The bonds are scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. on February 13, 2026.
The issuance carries the ASEAN Social Bond label, following affirmation by the Securities and Exchange Commission on December 18, 2025.
Proceeds will be used to finance or refinance eligible social projects under BPI’s Sustainable Funding Framework, in line with ASEAN Social Bond Standards. These projects typically support inclusive growth initiatives, such as access to essential services, employment generation, and financial inclusion.
Market participants said the pricing reflects sustained investor appetite for high-grade bank issuances, particularly those with a clear sustainability angle, even as yields have moderated from recent highs. The relatively short tenor may also appeal to investors seeking yield visibility while limiting duration risk.
BPI Capital Corp. and ING Bank N.V., Manila Branch are acting as joint lead arrangers and selling agents for the offer.
BPI and the joint lead arrangers said they reserve the right to update the offer’s terms, periods, and dates, as necessary, with due notice to investors.
The SIGLA Bonds reinforce BPI’s active presence in the domestic capital markets while aligning funding activities with its broader environmental, social, and governance objectives.
